Amazon is ranked as the number one company to work for in 2022.
LinkedIn released its Top Companies 2022 ranking last week, listing the 50 best workplaces for career growth in the U.S. Among other top companies include Alphabet (the parent company of Google), Wells Fargo, and JPMorgan Chase & Co.
The ranking is based on LinkedIn data across seven key career progression pillars: ability to advance, skills growth, company stability, external opportunity, company affinity, gender diversity, and spread of educational backgrounds.
AMAZON: COMPETITIVE COMPENSATION FOR CORPORATE WORKERS
Amazon, the country’s second-largest private employer after Walmart, Inc., topped LinkedIn’s ranking this year in large part due to its competitive recruiting and large-scale investments in training initiatives.
The company recently announced plans to boost max base pay for corporate workers to $350,000. Amazon has also raised average wages for more than half a million warehouse workers last year.
Career growth initiatives are also a big reason why Amazon has topped the rankings this year. The company is investing $1.2 billion over the next three years to expand its education and skills training initiatives. Amazon’s Career Choice program pays 100% of college tuition for frontline employees and covers high school diploma programs, GEDs, and English proficiency certifications.
ALPHABET: FLEXIBLE WORK MODEL
Alphabet is the parent company of companies that includes Google, YouTube, Fitbit, Waymo, and Verily. It is seeing huge growth with nearly 6,500 employees onboarded last quarter alone. That may be in part due to the company’s flexible hybrid work model—a plan that offers four ‘work from anywhere’ weeks per year, sabbaticals for long-term employees, and ‘no meeting’ days.
The company has also invested greatly in its culture and career growth initiatives, such as Women@Google and Googler-to-Googler training, which lets its workers get first-hand knowledge across different fields from other employees.
WELLS FARGO: A HIRING SPREE
Wells Fargo is about to have a hiring spree. The company is planning to hire thousands of workers for software engineering and tech roles this year with plans to double down on its cloud computing. Additionally, the company is ripe for those just starting out their careers—over 2,000 of Wells Fargo’s 8,000 open positions are entry and associate level. Additionally, the company has pledged $300 million towards training, career development, early talent programs, and tuition reimbursement.
Check out the full LinkedIn Top Companies 2022 ranking here.
Next Page: New England Patriots owner provides Harvard Business School with its largest fellowship
Harvard Business School Aerial View, ©Gren Hren for Harvard Business School
Robert Kraft, founder, chairman, and CEO of both the Kraft Group and the Kraft Family Foundation, has established a $24 million fund at the Harvard Business School—the largest endowed fellowship in school history.
The Robert K. Kraft Family Fellowship Fund, announced by HBS last week, will make Harvard Business School’s MBA program more affordable and accessible. It specifically targets students from lower socioeconomic backgrounds who are first generation college students or from other underrepresented student backgrounds. Kraft, who is also CEO of the New England Patriots, established the fund with his son Jonathan, president of the Kraft Group. Both the Krafts are HBS alumni, with Robert graduating in 1965 and Jonathan earning his MBA in 1990.
“Harvard Business School has a long and proud history of educating leaders who make a difference in the world, among them Robert and Jonathan Kraft,” Harvard President Lawrence S. Bacow says. “Through this extraordinary act of philanthropy, father and son ensure that more lives are transformed as theirs have been. The University is grateful for their generosity and for the deep care with which they support the members of our community.”
A LIFELONG DREAM TO ATTEND HBS
Kraft, a native of Brookline, Massachusetts, had a lifelong dream of being a student at HBS. He attended Columbia University on a full scholarship before deciding to apply and ultimately attend HBS through the support of a fellowship. Kraft has since been a vocal supporter of fellowships and the critical role of financial support and mentorship in higher education.
“Being part of HBS changed my life, and I am deeply grateful for the chance to help others benefit from the transformational power of this experience,” Kraft says. “Our family is proud of the extraordinary difference that our fellowship recipients make in the world.”
Nearly half of current MBA students at HBS receive financial aid, with an average one-year fellowship of $42,800 and more than $40M in need-based aid awarded annually. Admissions decisions are “need-blind”—made without regard to applicants’ financial circumstances, and admitted students receive financial aid based on demonstrated need.
“As HBS strives to ensure business is a force for good in society, it is increasingly important to educate leaders who anticipate the impact of their decisions on employees, customers, and their communities,” HBS Dean Srikant Datar says. “Having the voices of fellow students from a range of cultures, industries, and socioeconomic backgrounds in the classroom broadens everyone’s perspectives on the real-world challenges they will face as business leaders. We are only able to foster this environment through the generous support of fellowships by leaders like Robert and Jonathan Kraft.”
Sources: Harvard Business School, New England Patriots
Next Page: 2 questions to ask yourself if you’re considering an MBA
While round one MBA applications are still months away, experts say now is a good time for prospective applicants to lay the groundwork for a solid and strategic application.
Stacy Blackman, founder of Stacy Blackman Consulting, recently discussed critical self-evaluation steps that every prospective applicant should be taking now to set the foundation for a strong MBA application.
WHAT ARE YOUR CAREER GOALS?
The first step to the self-evaluation process, Blackman says, is to ask yourself what your career goals are.
“Do you work in a field where MBAs are not traditionally required? You may still benefit from the degree,” Blackman writes. “Especially if your career goals include rising to senior management within your company or starting your own company. As a first step, look around at the people you most admire and want to be like within your target company or industry. Read their bios to see their skillset and educational background.”
Experts say it can be helpful to think about both your long-term and short-term goals.
“Your long-term MBA goal is generally where you plan to be 10 years out, while your short-term MBA goals are the stepping stones paving the way to get there,” Heidi Hillis, an MBA admissions coach at Fortuna Admissions and alumnus of Stanford GSB, writes. “Short-term goals involve your near-immediate plans – either for an internship and/or two to three years post b-school. During this period, you should be acquiring specific expertise or skills that’s essential for you to reach your long-term vision.”
WHY IS AN MBA THE RIGHT DEGREE FOR YOU?
When determining your career goals, it should become clear whether or not an MBA fits into those goals or not.
“Consider your expectations for the degree and critically evaluate whether your hopes match the reality of an MBA program,” Blackman writes. “Do you know any current MBA students or alumni? Sounding them out is a great way to start your research and make sure you are committed to the MBA application journey.”
An MBA can be extremely beneficial for many. But, Blackman says, the degree has to be right for you and your goals.
“While an MBA is a great experience, ultimately it’s a tool to advance your professional aims,” Blackman writes. “The degree is highly focused on practical business applications, not intellectual curiosity.”
And if an MBA doesn’t align with your goals, don’t worry. There are plenty of other graduate degrees that may work better for you.
“Think about the academic focus, the time you will spend pursuing the degree, and what works best for you personally,” Blackman writes.
Sources: Stacy Blackman Consulting, Fortuna Admissions
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